Customs threshold increase raises specified monetary limits, changing applicability of section 122 upon presidential assent.

Clause 122 amends the Customs Act by increasing the monetary thresholds in two subclauses of section 122: it replaces the existing lower limit in clause (b) with a higher limit and likewise raises the minor threshold in clause (c). These modifications alter the quantitative triggers for the provision's application and take effect from the date the Bill receives presidential assent.

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